The Business Research Company’s Distribution Board Global Market Report 2021: COVID-19 Impact and Recovery
LONDON, GREATER LONDON, UK, July 28, 2021 /EINPresswire.com/ — The smart panel board is a key trend shaping the distribution board market. Smart panel boards detect and communicate switchgear health statistics and energy usage and share the data over several network protocols. Smart panel boards can save operating costs, improve safety, and anticipate future incidents. For instance, in October 2020, SMART Panelboards created with new concept enclosure design, which has been tested and is constructed following the regulations.
Major players in the distribution board market are Schneider Electric, ABB Ltd., General Electric, Industrial Electric Mfg, Legrand, Siemens, ESL Power Systems, East Coast Power Systems, Hager Group, Larsen & Toubro, Arabian Gulf Switchgear Ltd, Blakley Electrics, EAMFCO, Havells India Ltd, INDU-Electric Gerber GmbH, Meba Electric, Norelco, and OEZ.
In March 2021, Siemens, a Germany-based industrial manufacturing company acquired C&S Electric for $284.03 million (INR 21 billion). C&S Electric is an India-based manufacturer of electrical and electronic equipment including switchgear, power protection, and distribution board. With this acquisition, Siemens seeks to get access to the Indian market and establish an export hub for delivering low-voltage goods to worldwide markets. Siemens also believes that the acquisition will pave the way for the establishment of a design and manufacturing center in India, allowing the business to export electrification solutions to emerging markets across the world.
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The global distribution board market is expected to grow from $4.39 billion in 2020 to $5.19 billion in 2021 at a compound annual growth rate (CAGR) of 18.2%. The growth is mainly due to increase in electricity demand which can be attributed to the growing urbanization and growing demand for electronics. TBRC’s distribution boards market global forecast states a CAGR of 11.5% for the market to reach $8.01 billion in 2025.
The main voltage types in distribution boards are low voltage and medium voltage. The different types of mounting include flush mounting, surface mounting and are implemented in various sectors such as transmission and distribution utilities, manufacturing and process industries, commercial and residential infrastructure, others.
Asia Pacific was the largest region in the distribution board market in 2020. TBRC’s report covers the distribution boards industry by region, including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Distribution Board Global Market Report 2021: COVID-19 Impact and Recovery is one of a series of new reports from The Business Research Company that provides distribution board market overview, forecast distribution board market size and growth for the whole market, distribution board market segments, and geographies, distribution board market trends, distribution board market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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